Spain may have sank deeper into recession in the first quarter, but the executive director of the euro zone's largest bank says the economy will bottom out this quarter and sees green shoots appearing.

Watchmakers Swatch Group and Richemont as well as elevator maker Schindler are among Swiss stocks that stand to gain significantly from a potential free trade agreement between Switzerland and China, analysts told CNBC.

France's fall back into recession is likely to pile more pressure on the country's finance ministry, at a time when infighting has already led one senior politician to fuel rumors that Finance Minister Pierre Moscovici could be replaced.